Download Oracle Financials Cloud: Payables 2021 Implementation Essentials.1z0-1055-21.ExamTopics.2026-07-17.21q.vcex
| Vendor: | Oracle |
| Exam Code: | 1z0-1055-21 |
| Exam Name: | Oracle Financials Cloud: Payables 2021 Implementation Essentials |
| Date: | Jul 17, 2026 |
| File Size: | 95 KB |
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Demo Questions
Question 1
Which two are classified as Self-Billed invoices? (Choose two.)
- Customer Refunds initiated from Receivables
- Evaluated Receipt Settlement (ERS) Invoices
- Invoices created using Integrated Imaging
- Expense Reports transferred from Expenses
- Debit Memos created by the Return to Supplier feature
- Invoices entered through the Supplier Portal
Correct answer: B, F
Question 2
A company is centralizing their payment processing using the service provider model.
Which reporting level has to be used to run the Prepare Payables to General Ledger Reconciliation report?
- Run the Prepare Payables to General Ledger Reconciliation report at Ledger level.
- Run the Prepare Payables to General Ledger Reconciliation report at Business Unit level.
- Running the Prepare Payables to General Ledger Reconciliation report is NOT available when there is a centralized payment processing.
- Run the Prepare Payables to General Ledger Reconciliation report for combination of Ledger and Balancing Segment Value.
Correct answer: B
Question 3
While processing an expense report, the system placed a payment hold on the expense report.
What are two ways to release payment holds? (Choose two.)
- Expenses automatically releases holds when receipts are received or waived.
- The employee can manually release the hold from the notification.
- The expense auditor can manually release the payment hold at his discretion.
- The employee's supervisor can manually release the hold from the notification.
- Payables Manager can release payment holds in Payables.
Correct answer: A, C
Question 4
You are evaluating the predefined expense report approval rules within your test environment to see if they meet current business requirements.
Which three rule sets are part of the predefined setup? (Choose three.)
- Approval by Cost Centre owners in parallel or serial mode
- Approval by supervisor based on expenses type amount
- Approval by Project Manages in parallel or serial mode
- Approval by supervisor based on report amount
- Approval by a Group based on report amount in parallel or serial mode
Correct answer: A, C, D
Question 5
A Payables user creates a manual invoice and a Withholding Tax Classification Code defaults on the invoice line when the invoice is saved.
Where does this Withholding Tax Classification Code default from?
- From the Party Tax Profile of the Third Party Site
- From the Manage Tax Reporting and Withholding Tax Options
- From the Income Tax region of the Supplier
- From the Site Assignments of the Supplier Site
Correct answer: B
Question 6
When working with reference data sets in Payables, what reference data sharing method can you use for Payables Payment Terms?
- Assignment to one set only; no common values allowed
- Assignment to one set only with common values
- Assignment to multiple sets with common values allowed
- Assignment to multiple sets; no common values allowed
Correct answer: D
Question 7
You need to create a payment for a supplier before the next payment run. The invoice you wish to pay is not available for selection in the Create Payment page.
Which two are the reasons for this? (Choose two.)
- The payment method for the invoice is Electronic.
- The invoice is not yet due.
- The invoice is not validated.
- The payment supplier site is different to the supplier site on the invoice.
- The invoice is not accounted.
Correct answer: B, C
Question 8
A company has three legal entities each with a corresponding business unit all within the same country. All organizations buy and sell the same products. You are configuring the tax setup.
What is the minimum number of Tax Regimes you need to configure for this company?
- 2
- 6
- 1
- 3
Correct answer: D
Question 9
During an expense audit the auditor marks an expense item that is missing a receipt to be Short Paid. They choose to complete the audit and warn the user.
Given that the Expense Report Audit Approval is set to After Manager Approval, what two are valid results of the auditor action? (Choose two.)
- New expense report containing disallowed expense items is immediately created.
- Approved part of the expense report is not eligible for expense reimbursement.
- The approved part of the expense report is eligible for expense reimbursement.
- New expense report containing disallowed expense items is not created until manager approves the short payment.
Correct answer: A, B
Question 10
You use corporate cards with expenses and have implemented the Company Pay payment option. An employee incurred the following expenses.
What is the resulting payment amount made to the employee for these expenses?
- 1449
- 201
- 949
- 500
Correct answer: C
Question 11
There are four key reports in Cash Management.
What is the correct match for each report and its description?
Report -
1. Cash to General Ledger Reconciliation Report
2. Bank Statement Report
3. Cash in Transit Report
4. Bank Statement Analysis Report
Description -
E: Lists all transactions for a specific bank account, that have been remitted to the bank but have not been cleared.
F: Displays the bank statements that are used to analyze balances and transaction details.
G: Displays balance and transaction information for specific bank statements.
H: Lists bank statement transactions that are accounted in GL but are not reconciled in Cash Management.
- 1 = H, 2 = G, 3 = E, 4 = F
- 1 = E, 2 = G, 3 = H, 4 = F
- 1 = H, 2 = F, 3 = E, 4 = G
- 1 = H, 2 = E, 3 = G, 4 = F
Correct answer: C
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